Die Sonderbehandlung von Gesellschafterdarlehen im deutschen und im chinesischen Recht

Why do we need rules concerning shareholder loans? This work begins with an analysis of the shareholder position in closely held corporation. From an economic perspective, this work argues that the shareholder loans for undercapitalised corporations cause a rise of risk incentives of the shareholder, which result in inefficient investments and higher transaction costs. This finding provides criteria for the establishment of possible regulation regime.
This work also studies the regulations on shareholder loans in German law with particular interest in the discussions over the conditions for the contest of shareholder loan repayment and the definition of personal and material scope of the special regulations. Following the new legal situation after the amendment of the Chinese Corporation Code during 2013/2014, this work suggests that the Chinese bankruptcy law also adopts regulations on shareholder loans.